Second Quarter Merchandise Imports Amounted to $178.2 million

"The total value of all merchandise goods imported by Cayman residents amounted to CI$178.2 million"

The total value of all merchandise goods imported by Cayman residents amounted to CI$178.2 million, 2.3 percent lower compared to CI$182.4 million recorded in the second quarter of 2012.

⫿Overall, the decline in the total value of imports was mainly due to non-petroleum products such as miscellaneous manufactured articles, and chemicals and related products,??? noted the Minister for Finance and Economic Development, Hon. Marco Archer.

In contrast, imports of petroleum products increased by 1.3 percent, moving from CI$38.6 million in the second quarter of 2012 to CI$39.1 million this year. This is attributed to an increase in the average price of fuel imports as volume of imports declined. Petroleum products accounts for approximately 21.9 percent of total imports.